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One of Canada’s largest juices is surprised by the COVID-19 pandemic.
Freshii Inc. , which operates a retail store in downtown Lougheed in Burnaby, reported a $1 million loss in the first quarter.
The company reported a net loss of $1. 05 million during the thirteen weeks ended March 28, at a net loss of $2. 49 million in the same quarter last year.
It reported a adjusted loss of $549,000, compared to a adjusted loss of $1. 21 million in the first quarter of 2020.
Revenue totaled $2. 89 million, down from $4. 56 million in the same quarter of the year.
Freshii reported system-wide sales of $23. 3 million in the quarter, a decrease of $37. 2 million or 37% from $37. 2 million in the year.
The company said 43 sites were closed at the end of the first quarter of its 401 stores.
Freshii’s total number of outlets decreased to 10 compared to the fourth quarter of 2020 after opening seven new outlets in the quarter, but closed 17 locations, most of which had not been open and operational since the first quarter of 2020.
But the company noticed a strong boost in virtual sales in the quarter, with Sales of the Freshii mobile app up to 129% over last year.
“Freshii’s network of dining venues and omnichannel industries continued to show resilience and progressed well despite ongoing demanding situations posed by the COVID-19 pandemic,” Freshii CEO Matthew Corrin said in a statement.
Founded in 2005, Freshii has restaurants in 15 countries around the world and also sells nutritional supplements at points of sale and to consumers through its online sales site.
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